MUNICH (dpa-AFX) - The world's 100 largest automotive suppliers have increased their sales strongly thanks to price increases and higher car production. According to a study by consultancy Berylls, they grew 16 percent to 1064 billion euros last year compared with pre-Corona 2019. But profit margins shrank, it said, with high material and energy costs lowering profitability to an average of 5.6 percent - it was only lower during the height of the pandemic.

"While Europe suffered from high energy costs, Chinese companies were hardly affected. This effect was particularly strong in Germany," the study, published Wednesday, said.

To be sure, German suppliers Bosch, ZF Friedrichshafen and Continental continue to top the list of the top 100, along with Japan's Denso. Mahle, Schaeffler, Brose, Eberspächer, Dräxlmaier and Thyssen-Krupp are also among the big players. But "Korean and Chinese suppliers are making exceptional gains, while the market share of German and Japanese companies continues to decline," industry experts wrote.

In the coming years, sales and margin shifts in favor of Chinese suppliers are likely to continue, said Berylls partner Alexander Timmer. "Key drivers for this are the advancing electrification and digitalization of vehicles."

The consultants calculated an average profitability of 10.6 percent for battery manufacturers in 2022 - the industry average managed only half that. One of the big winners in the trend, according to Berylls, was Chinese battery maker CATL, which moved up to No. 7 in the rankings with 85 percent revenue growth./rol/DP/stw